Businesses need a predictable economic environment

Businesses need to have predictability of the economic environment. These results have occurred from a survey conducted at the end of July among members of the Bulgarian Chamber of Commerce and Industry. Regarding the impact of the current situation in our country on businesses the interviewed have shared the opinion that the lack of predictability in the economic aspect leads to a negative imprint in general. The political uncertainty is hiding huge risks; it decreases the foreign business partners’ trust and they rather tend to slow particular projects of theirs. These were part of the shared apprehensions of the businesses.

The expectations of the businesses towards the institutions mostly hint at a more active work of the National Revenue Agency (NRA) and the supervisory bodies, the Customs in particular, who apparently are not able to meet the expectations for providing higher collectibility of the revenues and interception of the unfair competition in Bulgaria.

Businesses expect a dialogue with the state along with the adoption and implementation of the package of measures for stabilizing and improving the business environment. Businesses need predictability in economic terms, improvement of the administrative proceedings, decrease of the bureaucracy and corruption. Currently on focus remains the need for   alleviating the regulatory regimes, as well as changing the fees collected by the institutions, the timely repayment of the liabilities towards the companies and changes to the Law on public procurement.